英语泛读unit_15_class_notes50836.pptVIP

All countries across the world are on the same boat of world economy, and all on board must work together to fight against the current difficulties. ~ President Hu Jintao Chinese President Hu Jintao talks with British Prime Minister Gordon Brown during the G20 summit in London, April 2, 2009. Unit 15: Economics Vocabulary (p. 226) economics: the study of the production and consumption of goods and services macroeconomics: large-scale economic factors (for example, interest rates) microeconomics: small-scale economic factors (for example, individual buying decisions) the business cycle: a cycle of economic expansion and contraction welfare state: system of government benefits protecting the health and well-being of citizens budget: an estimate of income and expenses for a set period of time inflation: an increase in prices and fall in the purchasing value of money Word Pretest (p. 222) C B B A C C A B Law of Supply and Demand The Business Cycle Business Cycle, Supply Demand Article: The Theory of the Business Cycle and the Cause of Recessions Read the article and work together to answer the questions on the worksheet. How are supply and demand related to each other? Why are accurate prices important? What is the explanation the text describes as the cause for the current financial crisis? In your opinion, what are some possible solutions to the economic crisis? Your Personal Budget Budget: an estimate of income and expenses for a set period of time Here are some good questions to think about: What is your budget as a student at DLUFL? - How much money is available for you to spend each month? - Do you usually spend all of the available money each month? Has inflation changed your spending habits? Is there any change you can make to save more money? Idioms: Problem-Solving Ability (p. 227) is right on target beats around the bush misses the mark is off base gets to the heart of hits the nail on the head “Can’t Buy Me Love” –